Are We Dead Without China?

[xsudo23]

China holds 20% of total btc. Bitcoin won't die from one move itself l, but if China can ban it soon other countries will try to ban it aswell. So if more countries get motivated by this move by China and impose a similar ban then Bitcoin will soon go down.

[chichigirl]

Definitely not, we're not gonna die without china. They can't control bitcoin because it is decentralized. There are more holders of bitcoin from other countries.
 

[grermezter]

China has become the powerhouse for Bitcoin (and the whole cryptocurrency in general) as it is hosting many Bitcoin miners due to cheaper electricity and maybe also cheap labors. China also boasts of probably millions of Bitcoin owners and traders who are influencing the moves of the market on day to-day basis. As far as acceptance of Bitcoin in China, it is comfortably good until such time when the government decided that it is time to intervene.

In general, the Chinese government is not comfortable with Bitcoin as it indeed representing a different currency that they can not control with. since Bitcoin is decentralized it would be hard for the government to make interventions and so they are thinking that maybe it is time to ban it altogether. The government can not kill Bitcoin but what they are doing is actually closing the country as a market for Bitcoin.

So the question is: Can Bitcoin survive without China? In case, it can't then then there is something wrong with it since it is not resilient to ride the big storm it is in.

These are just rumors and nothing concrete has been proven am not sure China will ban bitcoin at all and even when they do, it's not going to let bitcoin die,  Bitcoins is going to be there forever most governments will start accepting and when that happens, the Chinese are sure going to regret it when they do ban it.

[gabbie2010]

Whether we like it or not China has a large market of bitcoin whatever action taken by the Chinese government will have drastic effect on the price of bitcoin which is obviously what we are experiencing presently intact the price had defied all technical analysis, be as it may,  bitcoin has come to stay I hope the price does not go below 3k and when all those Chinese traders sold all their coins there will stability in the price of bitcoin.

[michaelch]

I think bitcoin will survive without China. But I also think that if the ban does come strictly into effect, it will cause bitcoin to continue underground in China. They may still find a compromise and find a solution.

[dimastegar]

China is only the majority of holders of Bitcoin. But that does not mean without China we will dead. Cryptocurrency is something that can not be turned off by a state regulation. and I think, China will re-open what they have Banned. We will see later.

[llyfee4u]

Most definitely not.  The decentralized nature of Bitcoin means no one country can truly control or grind it to halt.  Admittedly, its not great news about developments in China however, the tax news in the US is positive because it may just attract a few more millions to adopting bitcoin.  Ultimately, China has affected bitcoin and will probably continue to for sometime but i believe that bitcoin will recover and rise again so long as another major player country doesn't copy or follow in China's foot steps. 

[xBitHodler]

I don't think so. China investors have huge amounts of money but I'm quite sure Bitcoin is going to recover pretty fast. How many times we were on the edge? Our community survived every time.

[bittraffic]

Its not US the will die but them
If its true that the Chinese government are going to ban bitcoin and disallow chinese exchanges to trade bitcoin, then I guess all those miners in thier country are going to be monitored and also the Chinese traders are going to die. I mean the numbers are going to slowly die.

[1WorldOnline]

There will be a disruption to the market, but cryptocurrency will survice.

[miyong]

Bitcoin will not die without them. Bitcoin will continue to spread in other nations. As long as there are more believers and investors bitcoin will continue to rise. The news about bitcoin is a sign that it is continue growing.

[rasmadisulaiman]

China is a big country, I think bitcoin will not die without China. But it will affect the bitcoin price if China bans total bitcoin.

[MarketMagic]

Not to worry if over 1B china peeps decide to dump hard there will be 2B western noobs ready to buy  

[weav]

China is a big country, I think bitcoin will not die without China. But it will affect the bitcoin price if China bans total bitcoin.

True , altough i have hopes they will come back, they are just a part of the market that will be replaced.
Btc wil go up with or without.

[Ranly123]

China has become the powerhouse for Bitcoin (and the whole cryptocurrency in general) as it is hosting many Bitcoin miners due to cheaper electricity and maybe also cheap labors. China also boasts of probably millions of Bitcoin owners and traders who are influencing the moves of the market on day to-day basis. As far as acceptance of Bitcoin in China, it is comfortably good until such time when the government decided that it is time to intervene.

In general, the Chinese government is not comfortable with Bitcoin as it indeed representing a different currency that they can not control with. since Bitcoin is decentralized it would be hard for the government to make interventions and so they are thinking that maybe it is time to ban it altogether. The government can not kill Bitcoin but what they are doing is actually closing the country as a market for Bitcoin.

So the question is: Can Bitcoin survive without China? In case, it can't then then there is something wrong with it since it is not resilient to ride the big storm it is in.

No not yet, China is only one part of all the bitcoin traders and investors. It is indeed china played a bid role in bitcoin, but if they ban bitcoin in there country it would only make the currency drop and not totaly dead. There are also lot of cuntry that invest in cryptocurrency which has a high investment in it, for example japan. We have nothing to worry about it.

[Reez]

No way. China is one company. Why would Bitcoin be dead without China?

[JL421]

I think yes you are right without china bitcoin would ve nothing they were the first one to invest the most in bitcoin they are the ones who saw the potential in it the people living there sometimes are assholes but we can't deny the fact that china is surely the backbone of bitcoin

[bitcub]

China is no longer the world's top bitcoin holder but Japan. I guess what happened from Bitcoin now is a trully blessing in disguised since Chinese government is a scum bag. There influence power now is weaker.

[CryptoPorco]

I really dont think so.. China might play a "big" role in the Crypto world but Crypto is too big now to simply "die" without China... too many other countries use/invest in Crypto.
At most there will be a drop by the end of the month when the ban/regulations take place.. but it will rise again no doubt.

[Soranith]

I guess not! Crypto is not just about China though most of the investors are from there that is not the only reason why bitcoin survived there are still a lot of people from different countries who invested in bitcoin and believed in it so if we all don't want bitcoin to be dead then it won't be happening. Now Japan is dominating in bitcoin after China trying to put down bitcoin maybe this is a great move since Japan is also a well known country when it comes to doing business.